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Jun 23, 2013
06/13
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CNBC
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the impact on the economy and younger people. "on the money" begins right now. >>> here's a look at what's making news as we head into a new week "on the money." ben bernanke spoke and the economy had a taper tantrum. he said the economy is getting stronger and if the strong reports continue, the fed will slow down the pace of the bond-buying programs that helps to keep interest rates low this fall. bernanke also said quantitative easing could end by the middle of next year. >> if the incoming data are broadly consistent with this forecast, the committee currently anticipates that it would be appropriate to moderate the monthly pace of purchases later this year, and if the subsequent data remain broadly aligned with our current expectations for the economy, we would continue to reduce the pace of purchases in measured steps through the first half of next year, ending purchases around midyear. >> well, those words spooked the markets. the dow jones industrials average tumbled 350 points on thursday, the worst day since the preside
the impact on the economy and younger people. "on the money" begins right now. >>> here's a look at what's making news as we head into a new week "on the money." ben bernanke spoke and the economy had a taper tantrum. he said the economy is getting stronger and if the strong reports continue, the fed will slow down the pace of the bond-buying programs that helps to keep interest rates low this fall. bernanke also said quantitative easing could end by the middle of...
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Jun 23, 2013
06/13
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KQED
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of the global economy. in a statement, the g8 warned that, quote, global economic prospects remain weak. though downside risks have reduced thanks in part to significant policy actions taken, unquote. in the u.s., the euro zone and japan. they depicted 2014 as a quote unquote difficult one with the euro zone in recession and the american economy still hampered by high unemployment. china did not participate in the discussions since china is not a member of the g8 although japan, its neighbor, is. >> why are the economies around the world slowing down. >> because the economies around the world have accumulated too much debt and they don't know how to get the economies moving again. china's growth rate is down to 6 or 5%. no one knows where it's going. exports within the european community are dropping all over the place. virtually every european country -- look at the unemployment rate in spain. it's 26%. you look at italy, france and spain, they're all cass -- basket cases. they have a debt to retail. just
of the global economy. in a statement, the g8 warned that, quote, global economic prospects remain weak. though downside risks have reduced thanks in part to significant policy actions taken, unquote. in the u.s., the euro zone and japan. they depicted 2014 as a quote unquote difficult one with the euro zone in recession and the american economy still hampered by high unemployment. china did not participate in the discussions since china is not a member of the g8 although japan, its neighbor,...
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Jun 23, 2013
06/13
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FBC
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it is to ensure the safety of the economy. if you want to bring it back to the chi, to make sure the child is safe, right? that is the primary concern. the economy isetting better, in theory the stock market will be okay and i think liz makes a very valid point. the maet is getting ahead of itself or miss analyzing the recovery. the rovery is solid. charles:'s stance with the fed is trying to do and have always tried to do is kick off the virtuous cycle. ading an illusion they are much better, your house is worth more, this makes people go out and shop, the shopkeeper hires more people and th in turn have a job now and spend and the next shopkeeper hiresomeone now we have this virtuous cycle, positive cycle and it seems to matter what ben bernanke tries to do it does not click, it has not clicked in yet. >> ifact it has clicked. we are in a period of economic growth, we can debate the level, it is not satisfactory and so on. the hope is when you do all ththings and there are other forms of stimulus other than the kind we are d
it is to ensure the safety of the economy. if you want to bring it back to the chi, to make sure the child is safe, right? that is the primary concern. the economy isetting better, in theory the stock market will be okay and i think liz makes a very valid point. the maet is getting ahead of itself or miss analyzing the recovery. the rovery is solid. charles:'s stance with the fed is trying to do and have always tried to do is kick off the virtuous cycle. ading an illusion they are much better,...
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Jun 23, 2013
06/13
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FOXNEWSW
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their role in the economy. they just punted by and large. >> let's pick up on that because as julie said, there's the argument in its own way that bernanke statement is good news, inflation is low, it may be tepid, but growth is continuing and it shows the economy is recovering. >> but worry for someone like bernanke, when interest rates are this level and this much stimulus in the economy from that, and the economy strengthens to the point we have reasonably robust growth, you're right on the danger point for outbreak of inflation. that's what a fed chief has to be concerned about. the thing chiefs often have to do is raise rates in a way it doesn't blow up the force of whatever recovery is going on, but in time to prevent inflation. once the inflation jeannie is out of the bottle, it is hard to put it back in. last big experience we had with that was with near hyperinflation in the late 1970s, and massive recession was in duesed when paul volcker clamped down on that, raised interest rates to the point we wen
their role in the economy. they just punted by and large. >> let's pick up on that because as julie said, there's the argument in its own way that bernanke statement is good news, inflation is low, it may be tepid, but growth is continuing and it shows the economy is recovering. >> but worry for someone like bernanke, when interest rates are this level and this much stimulus in the economy from that, and the economy strengthens to the point we have reasonably robust growth, you're...
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Jun 23, 2013
06/13
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FOXNEWSW
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it is good for our economy. this bill is good for our national securitiment no one can get a green card until the board of security measures are up and running and e verify is up and running and controlling a job in the -- in america. as to the 11 million they will have an earned, hard pathway to citizenship. they need to get in the back of te line before they become a citizen. they can't cut in line. they have to pass two english proficiency exams. i reject the idea of becoming mideastern europe. america is different than mideastern europe. this is a good solution for our national security and for our economy and tough, practical solution to 11 million. and most importantly if we do this bill, amnesty is the status quo. if we do this bill, there will be no third wave of illegal immigration. >> let me ask you about another objection senator lee just mentioned. the idea that this will be a huge 1200-page bill. i heard you complain about that during obamacare. the idea you have this huge bill that nobody has read
it is good for our economy. this bill is good for our national securitiment no one can get a green card until the board of security measures are up and running and e verify is up and running and controlling a job in the -- in america. as to the 11 million they will have an earned, hard pathway to citizenship. they need to get in the back of te line before they become a citizen. they can't cut in line. they have to pass two english proficiency exams. i reject the idea of becoming mideastern...
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Jun 23, 2013
06/13
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KTVU
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the economy is not improving significantly. you have conversations in the fed and wall street it is a disconnect. >> if the fed raises interest rates that can effect the mortgage rates and all kinds of things. it raises the question whether or not it was a mistake for the fed to be attached. did the economy and all of us become addicted to easy money? >> i think so. i e-mailed four different economists and financial types. took the words out of my mouth. i think, yes, there was a reasonable reason for an emergency intervention in 2008. keeping zero interest rate going for five years is asking for trouble down the roads. i'm afraid at some point we'll pay the price. i think the zero interest rate regime was good for wall street, big banks and big government which can borrow cheap. if interest rates were higher we would see an impact on the deficit. it's bad for small savers. it's been bad for small business actually. community banks don't benefit from this regime. i think the bernanke policies are part of an overall set of polic
the economy is not improving significantly. you have conversations in the fed and wall street it is a disconnect. >> if the fed raises interest rates that can effect the mortgage rates and all kinds of things. it raises the question whether or not it was a mistake for the fed to be attached. did the economy and all of us become addicted to easy money? >> i think so. i e-mailed four different economists and financial types. took the words out of my mouth. i think, yes, there was a...
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Jun 23, 2013
06/13
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KGO
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we're talking about the economy. look at the economy, look at the potential there. look at the squandered opportunities we have had. we go back to congress did this or didn't do that. if we had an aggressive energy strategy, if we had a way to lift people out of where they are right now. when you see middle income people lost $5,000 a year, why is that? we are so blessed for so long, the only thing missing right now is strong leadership in establishing -- >> what would an aggressive energy strategy mean? the president is going to make a major announcement this week on climate change and energy. i want to know what that would be. >> i don't think that the president needs to make a statement on green energy. with the list of priorities of what's going on, if this is the initiative, i think there's a lot more things on the plate. to me, it's a pivot away from what's causing the distrust of this government. any relationship you have, whether it's you and i, you and your wife, any of us in a business relationship, when we lose trust in the person, then we don't have fait
we're talking about the economy. look at the economy, look at the potential there. look at the squandered opportunities we have had. we go back to congress did this or didn't do that. if we had an aggressive energy strategy, if we had a way to lift people out of where they are right now. when you see middle income people lost $5,000 a year, why is that? we are so blessed for so long, the only thing missing right now is strong leadership in establishing -- >> what would an aggressive...
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Jun 23, 2013
06/13
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CNNW
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also a pivotal week in the economy. we will look at ben bernanke's announcement and the market reaction with harvard historian neil ferguson squlmpt. >>> everyone is talking about the 3-d printing but that's yesterday's news. i'll show you printing atoms and molecules. that's the next big thing. first, here's my take. in the debate over u.s. intervention in syria, there's a striking mismatch between ends and means. proponents of intervention want to defeat a ruthless and powerful regime, rescue a country from civil war and usher in a new democratic political order. but these people say at the same time that they want to achieve all this with the most limited methods. the worst thing the united states could do right now is to put boots on the ground in syria, says senator john mccain. we're often told that the goal of this intervention is to stop the killing. but sending more arms into the mix will actually increase the violence. that's fine, say the interventionists, because the real goal is to oust assad. but as we lea
also a pivotal week in the economy. we will look at ben bernanke's announcement and the market reaction with harvard historian neil ferguson squlmpt. >>> everyone is talking about the 3-d printing but that's yesterday's news. i'll show you printing atoms and molecules. that's the next big thing. first, here's my take. in the debate over u.s. intervention in syria, there's a striking mismatch between ends and means. proponents of intervention want to defeat a ruthless and powerful...
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Jun 22, 2013
06/13
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CSPAN
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the economy has to grow on its own volition. you cannot have this artificially-induced said said -- fed stimulus. itke any drug, it wears off. may have already started. it is not as effective, so we might see some corrections in the market going forward. the fed might come out like bullard came out and said, -- and say, he is only kidding. he is not kidding.the markets are already moving against it. we will see how far it goes. right now, raising taxes is a hotly-debated economic issue. most economists -- ic issuebated economy among economists. you can imagine what site i am on. i am not in favor of tax hikes because it kills the timing. christina romer said that is true. the endgame said -- the end game is not going to be pretty. host: an editorial cartoon shows fed chairman ben bernanke pulling the rug on quantitative easing.stephen idaho falls, idaho. falls, idaho.aho good morning. caller: good morning. i was wondering if printing dollars is a flat tax that president obama and his administration could not possibly pass otherw
the economy has to grow on its own volition. you cannot have this artificially-induced said said -- fed stimulus. itke any drug, it wears off. may have already started. it is not as effective, so we might see some corrections in the market going forward. the fed might come out like bullard came out and said, -- and say, he is only kidding. he is not kidding.the markets are already moving against it. we will see how far it goes. right now, raising taxes is a hotly-debated economic issue. most...
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Jun 22, 2013
06/13
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CNNW
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economy can stand on its own. that means the u.s. economy is healing. but then you have nagging concerns about the rest of the world. a recession in europe, china's growth appears to be slowing. the global worries are one reason why stock investors are so concerned about a pull-back from the fed right now. >> this is a classic case of heads you win, tails i lose. it doesn't matter what bernanke would have said, the markets are ready to fall out of bed. it's per ververse, it's obscure it's childish, it's all those things. but here's the reason. because investors have gone for exotic emerging markets with very narrow exits. of course, when things start to change, they all head for the door at the same time. you're absolutely right. the mere fact that he will be taking his foot off the gas is because the car is going fast enough on its own. so you have to put it into context. do i think we should be concerned? the hiccup, bucolic plague of the last week. absolutely not. the market knew it was coming and they're just having a nasty bout of indigestioindiges
economy can stand on its own. that means the u.s. economy is healing. but then you have nagging concerns about the rest of the world. a recession in europe, china's growth appears to be slowing. the global worries are one reason why stock investors are so concerned about a pull-back from the fed right now. >> this is a classic case of heads you win, tails i lose. it doesn't matter what bernanke would have said, the markets are ready to fall out of bed. it's per ververse, it's obscure it's...
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Jun 22, 2013
06/13
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FOXNEWSW
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if we see interest rates go up, what does that do to the market and it to the economy? >> that's your real danger. a few weeks al ago, 1.6% on a government bond and now 2.5%. who cares. you try to get a mortgage six to eight weeks ago, you could you have gotten it at 3%. now it's pushing 4%. that's a big difference in how you value a home. so this is the market behaving. this isn't the federal reserve. that's bigger than the federal reserve. if it continues and we go to another percent up rapidly, you're going to see housing prices start to go down again and the recovery ending 37 so we don't want to go too far. but i do think a little was good because it was taking the heat off the stock markets. and we don't want artificially low rates, but they deserve rates at about today's level. >> john mayfield, does that worry you, the housing market is one of the few positives in the economy right now. >> yeah, but i don't think rates will go up significantly for a matter of time. you understand to dave's point that 8% was the benchmark brought up by the administration. give us
if we see interest rates go up, what does that do to the market and it to the economy? >> that's your real danger. a few weeks al ago, 1.6% on a government bond and now 2.5%. who cares. you try to get a mortgage six to eight weeks ago, you could you have gotten it at 3%. now it's pushing 4%. that's a big difference in how you value a home. so this is the market behaving. this isn't the federal reserve. that's bigger than the federal reserve. if it continues and we go to another percent up...
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Jun 22, 2013
06/13
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CNNW
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a growing economy. the idea that a lot of excess money will flow into the market, of course, scares -- that it will stop happening scares market participants. >> another surprise out of the news conference, moving the goalpost. when the jobless rate hit 7% the fed will likely pull back. we're at 7.6%. explain how lower unemployment could lead to negative results for the market. >> well, it's one of these things where if things go up too fast in terms of the economy then the market participants, in particular those institutions who have now become reliant on monetary policy to drive stocks they may force mr. bernanke to become more aggressive and take the pedal off and put pressure off the pedal and start to taper a little bit. faster. i think that's what most people are worried. we think it's nonsense. fundamentals drive stocks and we're in the mid of a grand transition from dependency on monetary policy to dependency onfuls and we think there's volatility along the way. >> you might be right. volatilit
a growing economy. the idea that a lot of excess money will flow into the market, of course, scares -- that it will stop happening scares market participants. >> another surprise out of the news conference, moving the goalpost. when the jobless rate hit 7% the fed will likely pull back. we're at 7.6%. explain how lower unemployment could lead to negative results for the market. >> well, it's one of these things where if things go up too fast in terms of the economy then the market...
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Jun 22, 2013
06/13
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KPIX
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takeaway is always hard but should we understand the fed easing off is actually a good sign for the economy? >> well, if you think of the dmi as a very sick patient that got sick during the frch chal crisis and the feds came in and offered drugs and life support, ben bernanke coming out and saying we have a plan to wind down life support is a sign that, okay, maybe the economy is ready to stand on its own without it. i think the tumult we saw on the market may not be the case. he said it's heavily dependent on the economic data. it's by no means over yet. >> lauren lis ter, thank you very much. >> thank you. >>> it would double the number of federal agents on the u.s./mexico border and open a u.s. path to citizen for millions of immigrants. chief correspondent nancy cordes has the lated. >> reporter: the plan worked out but republicans includes even more things. 20,000 new border agents, $3.2 billion in surveillance equipment in clugd infrared cameras and drones. >> i can tell you this. it's money well spent because it makes the border more secure, which helps us with our sovereignty. >> re
takeaway is always hard but should we understand the fed easing off is actually a good sign for the economy? >> well, if you think of the dmi as a very sick patient that got sick during the frch chal crisis and the feds came in and offered drugs and life support, ben bernanke coming out and saying we have a plan to wind down life support is a sign that, okay, maybe the economy is ready to stand on its own without it. i think the tumult we saw on the market may not be the case. he said...
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Jun 22, 2013
06/13
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KNTV
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unemployment needs to improve a little bit more and needs to be more growth in the economy. >> you talked about interest rates. that's a major concern for people, not just when it comes to mortgages, but student loans as well. >> everything you do is tied to the interest rate whether you like it or not. whether you have an existing loan or taking out a new loan. if you have a variable rate those could go up in the near term. they change with the market. if you have a fixed rate loan it stays the same. if you are taking on a new loan make sure you look closely at your mortgage. new mortgages, they also move with the market. we are seeing a 30-year fixed at nearly 40%. it's climbing. if you want take out a new mortgage, it's narrowing. credit cards, student loans, auto loans, other types of debt are tied to the federal reserve. those rates are likely to stay low. if you don't need one, don't rush to get one. >> good advice. as we look ahead to the week a knee-jerk reaction. looking ahead to the week coming up would be calmer. >> one would hope but unfortunately, the market that we are in ri
unemployment needs to improve a little bit more and needs to be more growth in the economy. >> you talked about interest rates. that's a major concern for people, not just when it comes to mortgages, but student loans as well. >> everything you do is tied to the interest rate whether you like it or not. whether you have an existing loan or taking out a new loan. if you have a variable rate those could go up in the near term. they change with the market. if you have a fixed rate loan...
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Jun 22, 2013
06/13
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CSPAN
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does the economy recover painfully slowly? yesterday john taylor at stanford has an interesting study. this is the worst recovery from a financially related recession in the history of the united states. generally, the markets are slow to recover. this is far worse. this involves the entire economy. it was not in the financial collapse. ,ost: in the financial times have a headline, fed signals sent investors running for cover. he delivered the clearest signal yet that the u.s. central bank was preparing to scale back or tapir its monthly asset purchases as long as u.s. economic conditions improve as expected. he commented at a news conference on thursday. was speedy and brutal. from georgeers mason university is here to talk to us about that. our next call is charles on our line for democrats. caller: it is nice to be able to speak this morning in reference to the economy. my issue is simply this. we have an economy with the laws are not enforced. the big bank ceo's have gotten away with murder and wrecked in this country. not
does the economy recover painfully slowly? yesterday john taylor at stanford has an interesting study. this is the worst recovery from a financially related recession in the history of the united states. generally, the markets are slow to recover. this is far worse. this involves the entire economy. it was not in the financial collapse. ,ost: in the financial times have a headline, fed signals sent investors running for cover. he delivered the clearest signal yet that the u.s. central bank was...
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Jun 22, 2013
06/13
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CNNW
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put the economy in terms we noneconomists understand. it's like a car. >> to return to the driving analogy, if the incoming data supports the view the economy's able to sustain a reasonable cruising speed we will ease pressure on the accelerator by gradually reducing pace of purchases. >> not put on
put the economy in terms we noneconomists understand. it's like a car. >> to return to the driving analogy, if the incoming data supports the view the economy's able to sustain a reasonable cruising speed we will ease pressure on the accelerator by gradually reducing pace of purchases. >> not put on
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Jun 22, 2013
06/13
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FBC
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hurting the economy more than it has helped. editor-in-chief steve forbes, great to have you with us. qe appears to be at an end, sort of. $85 billion continues, the rates are moving higher, so that will be problematic. your thoughts on the timing on all of thisy the fed chairman. >> three years late, better late than never, what ben bernanke has done inadvertently this make it easier for the vernment to deficit spending, get back on their feet, issue newonds but for the rest of the economy, smaller businesses like with what they said in russia, health care is free but you can't get any. they a thehe job creators, they are hurt by what bernanke did. not much left for the small guys. lou: a lot of lilimited government, some of them are anti-fed. oh, my gosh, we cannot conclude it a $5 billion per month. i do not like what he has done, bbt don't let him reverse course here. there is a chorus of hypocrisy in pleading for more punch bowl, please. >> it is hard to give up when you have it. bernanke will not do this precipitously, wil
hurting the economy more than it has helped. editor-in-chief steve forbes, great to have you with us. qe appears to be at an end, sort of. $85 billion continues, the rates are moving higher, so that will be problematic. your thoughts on the timing on all of thisy the fed chairman. >> three years late, better late than never, what ben bernanke has done inadvertently this make it easier for the vernment to deficit spending, get back on their feet, issue newonds but for the rest of the...
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Jun 22, 2013
06/13
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CNBC
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another driver of the economy has slowed down of late. slowed down for all but the galleries of restoration hardware. there's been a rough couple of weeks for the consumer package good names. they had been viewed as bond market equivalents. was that proctor up for real, was that j&j rally for real? we have to know. when they report on wednesday, big g. and mccormick and conagra report on thursday, we'll find out if they can actually have more than just a dead cat bounce. if the numbers are good and the stocks go up maybe they're no longer hostage to the tnx i told you to follow. but you know, if the tnx goes higher and the stocks go down, we're in the same world of hurt. why am i showing this? this is from mccormick spice, old bay spice the special ravens model. i think it's cool. it might not matter if the interest rates keep going higher though, so remember it's the bond market stupid. two companies -- two companies that delivered terrific quarters last time around, nike and accenture give us the report cards on thursday. nike has been
another driver of the economy has slowed down of late. slowed down for all but the galleries of restoration hardware. there's been a rough couple of weeks for the consumer package good names. they had been viewed as bond market equivalents. was that proctor up for real, was that j&j rally for real? we have to know. when they report on wednesday, big g. and mccormick and conagra report on thursday, we'll find out if they can actually have more than just a dead cat bounce. if the numbers are...
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Jun 22, 2013
06/13
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FBC
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directn [laughter] >> something isn't right about the economy. i'm trying to be positive, and @%s, it has expanded every quarter going back to 2009.onsit but it is consistently weak growth. the job market has alsooak up al improved, but not enough to soak up all the new people that are coming into the job market. housing seems to be doing better. in some places, there is another price bubble.ecause but there is swapping 44%, they are either underwater or they the't have enough equity. it is the same number, 44% of people people people that they are worse off economically compared to just one year ago. it is a huge portion that isntry still hurting.gh i even though i don't like what the fed has done, i do not see a the fed making any big changes.s i do not see this fragileofts economy jumping out of this anytime soon. melissa: be sure to watch the tom sullivan show this weekend. you can catch it at seven and 10:00 p.m. on sunday at 7:00 a.m. andhappy. 7:00 p.m. happy friday, everyone. thank you foroi nijoining us.eel have a great weekend. we will
directn [laughter] >> something isn't right about the economy. i'm trying to be positive, and @%s, it has expanded every quarter going back to 2009.onsit but it is consistently weak growth. the job market has alsooak up al improved, but not enough to soak up all the new people that are coming into the job market. housing seems to be doing better. in some places, there is another price bubble.ecause but there is swapping 44%, they are either underwater or they the't have enough equity. it...
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Jun 21, 2013
06/13
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CNBC
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what's your assessment of our economy? >> yeah. what's interesting, larry, is we know that the fiscal drag is hitting right now. the combination of tax increases and spending cuts should be the most onerous right now in the second and third quarter and yet, the u.s. economy has held in there fairly well and i'm not so optimistic that we'll get through the two quarters without a drop some place and i'm concerned about not only china's pmi, but i think we'll get softening economic data here that will take some of the taper off of the tapering that we're getting from the fed. in other words, yields should back down here after they race up a bit more. i think 275 on the ten-year might be the peak there and the midpoint in the summer we'll question the u.s. economy a little bit more because of the fiscal drag and just one more thing. two weeks ago, i got a meeting with orrin hatch, and he's obviously the ranking minority member of the central tax writing authority in the congress on the senate side, we know that tax reform is moving for
what's your assessment of our economy? >> yeah. what's interesting, larry, is we know that the fiscal drag is hitting right now. the combination of tax increases and spending cuts should be the most onerous right now in the second and third quarter and yet, the u.s. economy has held in there fairly well and i'm not so optimistic that we'll get through the two quarters without a drop some place and i'm concerned about not only china's pmi, but i think we'll get softening economic data here...
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275
Jun 21, 2013
06/13
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FOXNEWSW
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what does that tell you about the economy? >> well, it still shows that this is what has been all along a very tentative recovery. housing is looking better, manufacturing isn't. when you have unemployment still as high as it is, and when you have inflation still astonishing low, the market believes it's the wrong time to talk about tightening and it's probably right. >> chris: a.b.? >> the fed chair actually said we will keep these policies going if the economy requires it and the market flips out. there is not enough assurance in a jobless recovery to calm the pessimism that still remains years into it. >> chris: there is another factor here as well and, charles, why don't you add this to it. there is also concerns about slower growth and tightening of credit inside of china which has been a huge engine of economic growth. one of the few places with big growth around the world. >> that is true. but that's been happening over a period of weeks. i think the fact that you had the sell-off for a couple of days right after the be
what does that tell you about the economy? >> well, it still shows that this is what has been all along a very tentative recovery. housing is looking better, manufacturing isn't. when you have unemployment still as high as it is, and when you have inflation still astonishing low, the market believes it's the wrong time to talk about tightening and it's probably right. >> chris: a.b.? >> the fed chair actually said we will keep these policies going if the economy requires it...
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Jun 21, 2013
06/13
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FBC
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eye 58
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. >> something is not right about the economy. i am trying to be positive in the economy has expanded of record going back to 2009. but it has consistently weak growth. the job market is improving, but not enough to soak up all of the new people coming into the market. jan graduates and democrats. housing seems to be doing better in some places there is another price bubble. it is because there are too few homes for sale are silly because 44 percent of homeowners are either under water or don't have enough equity this celery letter that the same number that there worse off economically than compared to one year ago. a huge portion of the country is still hurting. the market's nervous about the fed slowing down. i did that, but even though i don't like what the fed is done, i don't see them making any big changes, and i do not see his friend our economy jumping out of its bed anytime soon. melissa: that's true. be sure to watch that tom sullivan show this weekend. on sunday at 7:00 a.m. and 7:00 p.m. happy friday. thank you for joi
. >> something is not right about the economy. i am trying to be positive in the economy has expanded of record going back to 2009. but it has consistently weak growth. the job market is improving, but not enough to soak up all of the new people coming into the market. jan graduates and democrats. housing seems to be doing better in some places there is another price bubble. it is because there are too few homes for sale are silly because 44 percent of homeowners are either under water or...
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Jun 21, 2013
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we this economy is maybe in first gear. now the federal reserve board, who hasn't accurately predicted anything about the economy over the last four years and has never predicted a recession, says, okay, we think now we're getting close to the point where we can pull the stimulus out of the market. nobody gets it. why now? we don't have enough traction here to do this. >> jerry, you talked to individual investor, portfolio people, not the manager. should they continue the course, keep the regular purchases or dollar cost averaging? >> they should absolutely. but a lot of the folks who watch our show don't like what they've seen in the market. they tone like the way we got to the rally. the think it's all about ben bernanke and the fed. they wore if he takes his foot off the gas pedal. who knows what will happen to the stack mark. you have too -- the stock market. you have to be invest elfed. the only thing to give you enough oomph to get you through retirement, putting the kids in scamp it's essential. >> jimmy there are so
we this economy is maybe in first gear. now the federal reserve board, who hasn't accurately predicted anything about the economy over the last four years and has never predicted a recession, says, okay, we think now we're getting close to the point where we can pull the stimulus out of the market. nobody gets it. why now? we don't have enough traction here to do this. >> jerry, you talked to individual investor, portfolio people, not the manager. should they continue the course, keep the...
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Jun 21, 2013
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economy, is only growing at 1.5%, so valuations are here. the economy and growth is here. and you're going to have to go through that corrective phase. we would recommend that investors continue to move up the quality spectrum as well as move down their duration and buy shorter-term maturities on their bonds. >> you got killed if were you in bonds this week. >> completely destroyed. >> and $38 billion of money coming out of bond funds. >> got completely destroyed. if the expectations are correct with the federal reserve -- which i don't agree with -- then you could see the 10-year move to a 3.5 handle over the course of the next several months. and that, indeed, is why the fear trade is starting to kick in. >> 30 seconds. best stock idea. >> best is triumph group, an aerospace parts company. we have price target there of $90 a share. >> the quality curve. >> quality inspection. >> johnson & johnson, and i'm giving you back 27 seconds. >> you won't tell us why. just -- >> johnson & johnson. international growth. great yield. 3.3%. if you want other drug stocks, abbott and m
economy, is only growing at 1.5%, so valuations are here. the economy and growth is here. and you're going to have to go through that corrective phase. we would recommend that investors continue to move up the quality spectrum as well as move down their duration and buy shorter-term maturities on their bonds. >> you got killed if were you in bonds this week. >> completely destroyed. >> and $38 billion of money coming out of bond funds. >> got completely destroyed. if the...
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Jun 21, 2013
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it is not anything that's actually happening in the real economy. there has been -- we've had a little bit of disappointing news from china, for example. that's a minor factor. the big thing is investor psychology. people are just worried that the stock market can't stand on its own. i think it's important today, we've seen stocks sort of stabilize. that will make people feel better. it's quite possible -- you know, there are a lot of people sitting there with money on the sidelines saying i'm pretty optimistic about the economy. i'm just waiting for prices to call so i can buy the dip, as they say. we may see a little be the of that. what we are going to see this summer is a lot of choppiness, a lot of volatility. if you think the economy is getting better and will continue to get better, this is really nothing to worry about. >> so rick, back to those interest rates. should rates, in your opinion, have been that low in the first place? >> well, there's no doubt they were artificially low. there was no normal reason that interest rates would be as
it is not anything that's actually happening in the real economy. there has been -- we've had a little bit of disappointing news from china, for example. that's a minor factor. the big thing is investor psychology. people are just worried that the stock market can't stand on its own. i think it's important today, we've seen stocks sort of stabilize. that will make people feel better. it's quite possible -- you know, there are a lot of people sitting there with money on the sidelines saying i'm...
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afterall, the economy is heading in the right direction. tr tamron, if you want to invest in the stock market right now, you're going to have to have a steel stomach. >> thank you, kayla. the news nation is also following breaking news out of the white house where president obama is about to nominate james comey to be the next head of the fbi. he's a former justice department official who helped oversee the legality of the national surveillance program under president george w. bush. if confirmed by the senate, he would replace robert mueller, who's head of the agency since september 2001. although fbi directors are limited to a single ten-year term, mueller's term was extended by the senate at the president's request. comey's nomination comes as the fbi comes under fire, increasing pressure over the issues of privacy and surveillance, including fresh revelations just this week that the agency has been using unmanned drones on u.s. soil. >> does the fbi own or currently use drones, and if so, for what purpose? >> yes, and for surveillance.
afterall, the economy is heading in the right direction. tr tamron, if you want to invest in the stock market right now, you're going to have to have a steel stomach. >> thank you, kayla. the news nation is also following breaking news out of the white house where president obama is about to nominate james comey to be the next head of the fbi. he's a former justice department official who helped oversee the legality of the national surveillance program under president george w. bush. if...
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markets financed scandals find out what's really happening to the global economy for a no holds barred look at the global financial headlines joining in to cause a report on our team. download the official application to yourself choose your language stream quality and enjoy your favorites from alzheimer's if you're away from your television just doesn't matter now with your mobile device you can watch on t.v. anytime anywhere. the highway builds on the bones of its maker it's the wind through one of the wildest and most beautiful regions of russia a place that's home to less than a million people on the campus of the great frost's. join me james brown as i travel to the coldest inhabited place in the world. and meet some of the toughest people i'm told this time is on the planets. just make sure that you keep your eyes on the road well for. the. race to the poll of polls only on all three. this should. could you take three. three. three. three. three. three broadcast quality video for your media project free media party dot com. finally as promised here's my interview with ben willis
markets financed scandals find out what's really happening to the global economy for a no holds barred look at the global financial headlines joining in to cause a report on our team. download the official application to yourself choose your language stream quality and enjoy your favorites from alzheimer's if you're away from your television just doesn't matter now with your mobile device you can watch on t.v. anytime anywhere. the highway builds on the bones of its maker it's the wind through...
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Jun 21, 2013
06/13
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FBC
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that's only in the economy meets their expectations. i think -- adam: that's a big if. >> it is a big if, yes, exactly but i do think we're seeing the early signs that the economy will perform significantly better in the second half of the year than it has to date in the first half of the year but i think that, when you look at the fed, you know, in my scenario, they're really only halfway through this purchase program. by the end of jean they will have purchased 670 billion in securities. and they will have purchased about another 660 billion over the next year. so, i think the market reaction has been exacerbated by a couple of things. one of them being the proximity to quarter end which forces people to make position adjustments they may not want to otherwise and also just based on the ferocity of the price action in the bond market i think that a lot of leveraged positions had to be reversed as well. ashley: ward, what about deflation? no one is really talking about it. they were for a while but if you look at some of the, get into
that's only in the economy meets their expectations. i think -- adam: that's a big if. >> it is a big if, yes, exactly but i do think we're seeing the early signs that the economy will perform significantly better in the second half of the year than it has to date in the first half of the year but i think that, when you look at the fed, you know, in my scenario, they're really only halfway through this purchase program. by the end of jean they will have purchased 670 billion in...
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Jun 21, 2013
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i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. at massmutual we're owned by our policyowners, and they matter most to us. ready to plan for your future? we'll help you get there. rescue workers have opened up a lot of dawn. ♪ they rely on it because it's tough on grease yet gentle. but even they'll tell you, dawn helps open... all: 3, 2, 1! [ male announcer ] ...something even bigger. this year, dawn is also donating $1 million to rescue efforts. go to facebook.com/dawnsaveswildlife. find out how the little things you do can make a big difference. >>> a half hour from now, president obama is going to be announcing the nomination of james comey to lead the fbi, best remembered in the debate over domestic surveillance, as acting attorney general under george w. bush. comey's reputation, though, is a fierce defender of the law, holds perhaps more relevance today as the nsa's once secret programs come under fire from republicans and democrats al
i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. at massmutual we're owned by our policyowners, and they matter most to us. ready to plan for your future? we'll help you get there. rescue workers have opened up a lot of dawn. ♪ they rely on it because it's tough on grease yet gentle. but even they'll tell you, dawn helps open... all: 3, 2, 1! [ male announcer ] ...something even...
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Jun 21, 2013
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economies. and the flows, the annual and seasonal flows of people back and forth across the border, the links people have across the border. and it would take that into account in, you know, a realistic sort of real-world way. and we're expecting real world out of the you see congress? you're not going to get it. >> real world out of the senate, saying nothing of the house, where the raoul labrador, i believe, mocked the fear of a large senate passing, 70-vote passage of immigration reform saying, ooh, i'm scared. that is not a good sign. this is one of the guys working on the house bill. >> absolutely. you know, i mean, there is big problems getting anything passed the house, talking about this in terms of the farm bill and holds for immigration as well. we also do need to think about priorities here. it's good to have the immigration laws enforced. but it's already more than the whole rest of federal law enforcement combined. and that's the thing to think about. we have organized crime element
economies. and the flows, the annual and seasonal flows of people back and forth across the border, the links people have across the border. and it would take that into account in, you know, a realistic sort of real-world way. and we're expecting real world out of the you see congress? you're not going to get it. >> real world out of the senate, saying nothing of the house, where the raoul labrador, i believe, mocked the fear of a large senate passing, 70-vote passage of immigration...
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Jun 21, 2013
06/13
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this economy -- >> there are some points made, either the economy strengthens sufficiently that the fed and pull back asset purchases and paper as they're talking about going from $85 billion to $75 billion a month, who knows? there's a lot of money being or the economy doesn't strengthen enough and canned tapir and liquidity will drive asset prices. q e was designed for it deflation, and designed to raise home prices and in mortgages -- i am not saying the world is perfect. and we just disagree with what the ultimate outcome would be and we are more bullish than he is. >> equity markets trading at 15 times multiple but you really have a growth trajectory of 2%. normal trajectory for the equity market with 15 times multiple gdp growing. but you don't have that. you need to see a fill in with economic activity in the second half for start to see more -- i would like to point out of this market, as you see even taper you are seeing risk of trade kick in and yields go higher, and maturities to four year, 3.5 year maturity to waive this out and perhaps wetter the approach to their portfolio
this economy -- >> there are some points made, either the economy strengthens sufficiently that the fed and pull back asset purchases and paper as they're talking about going from $85 billion to $75 billion a month, who knows? there's a lot of money being or the economy doesn't strengthen enough and canned tapir and liquidity will drive asset prices. q e was designed for it deflation, and designed to raise home prices and in mortgages -- i am not saying the world is perfect. and we just...
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Jun 21, 2013
06/13
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bernanke's announcement is good news when it comes to the economy. jeff glor is at the new york stock exchange. >> good morning to our viewers in the west. it was an anxious overnight for the markets after the dow lost yesterday and lost 560 points the past two days. the dow sunk to its lowest point this year. its biggest one day drop since november 2011. which comes on the heels of ben bernanke's announcement that the federal reserve is planning to slow its stimulus effort. >> in measured steps through the first half of next year. >> reporter: on wednesday, bernanke said a pullback on $85 billion worth of bond purchases made each month could begin by the end of this year. >> this is a natural correction we've been looking for. >> reporter: china is the world's second largest economy. it's work on its own issues. chinese banks are making it more difficult to lend cash. as credit tightens chinese consumers are spending less on goods from the west which weakens other economies in the process. the stimulus ending and china's slowing combination has inve
bernanke's announcement is good news when it comes to the economy. jeff glor is at the new york stock exchange. >> good morning to our viewers in the west. it was an anxious overnight for the markets after the dow lost yesterday and lost 560 points the past two days. the dow sunk to its lowest point this year. its biggest one day drop since november 2011. which comes on the heels of ben bernanke's announcement that the federal reserve is planning to slow its stimulus effort. >> in...
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Jun 21, 2013
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if the economy is better, why would the market tank like this? >> people don't ever want to think, you know what, i can do better in bonds than stocks. a lot of people are hiding in stocks. good dividends, good yield. the bond market is safer so they're selling stocks to buy bonds and people who are in bonds are freaking out too because they think the fed is no longer going to support them. there's uncertainly everywhere. >> the bigger picture here, it's about interest rates. historically low for a long time and now interest rates are going to go up. do you think right now, if your opinion, is the economy strong enough right now to with stand the concept of money getting more expensive. >> yes. yes, it is. doesn't seem like it because we don't have the employment growth we want but at the same time we have a lot of industries doing really strong. i wish our foreign trading partners -- i wish china was doing better, and europe was doing better. we're the strongest country in the world right now. >> president obama gave an interview recently and ta
if the economy is better, why would the market tank like this? >> people don't ever want to think, you know what, i can do better in bonds than stocks. a lot of people are hiding in stocks. good dividends, good yield. the bond market is safer so they're selling stocks to buy bonds and people who are in bonds are freaking out too because they think the fed is no longer going to support them. there's uncertainly everywhere. >> the bigger picture here, it's about interest rates....
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the obama economy has sucked for the last five years what could be different now? stuart: got to show you oracle. bad sales numbers, that is still a%. larry ellison, he is the guy at oracle, talking a dramatic, startling announcement, not helping the stock, barely above 30 as we speak. come done in because we are looking for winners on this particular day and you have got a couple. >> i have a lot of winners, some names we watched closely looking at facebook, tesla, car macs sold more used cars, facebook with their new video edition to instantgramm and to asthma made it through the recall, problems with the seat, 1200 cards for that, but it is up 300 and deal. stuart: thanks for looking. the farm bill, let's get to politics, the farm bill was killed because congress can't agree to cut anything so it seems to me. republicans want to cut the food stamp program and offering a 3% cut in the money spent on it for the work requirement and democrats didn't like that. on the other side of the aisle republicans objected to cuts in farm support programs. come on, both sides
the obama economy has sucked for the last five years what could be different now? stuart: got to show you oracle. bad sales numbers, that is still a%. larry ellison, he is the guy at oracle, talking a dramatic, startling announcement, not helping the stock, barely above 30 as we speak. come done in because we are looking for winners on this particular day and you have got a couple. >> i have a lot of winners, some names we watched closely looking at facebook, tesla, car macs sold more...
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is the economy strong enough? is the economy around the world strong enough to support the market at this level if they're going to pull support away. >> i think what he's trying to say is the economy he hopes will be strong enough. they're not pulling the rug out right now. they've made it clear they're extremely data dependent. i think they're expecting the economy to be strong enough, and i think they're expecting that when it is, they will start to pull back. to be clear, you know, you made a comment earlier about are we ahead of ourselves from a fundamental perspective? i think the market is very forward looking, right? so the point there is i think the market is looking ahead six months and saying, we're going to be in a very different place -- >> hang on, hang on. i understand that point, but i don't think that's where we are because we were artificially inflated by the fed, and the assumption was that the fundamentals would come up to support us, and, therefore, it's not a normal situation. what we're sayi
is the economy strong enough? is the economy around the world strong enough to support the market at this level if they're going to pull support away. >> i think what he's trying to say is the economy he hopes will be strong enough. they're not pulling the rug out right now. they've made it clear they're extremely data dependent. i think they're expecting the economy to be strong enough, and i think they're expecting that when it is, they will start to pull back. to be clear, you know,...
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and he's not talking about a flood of new jobs coming into the economy tither. he's got to quit the printing money at some point. he's hinting he will do it soon but he's not leaving a strong underlying economy underneath it. that's why to some degree you have got the selloff in the stock market. martha: an all female jury will decide if george zirmman committed murder when he shot and killed teenager trayvon martin. today we expect we'll hear whether a potentially critical piece of evidence will be admissible during this trial. phil keating is live in miami. this hearing focuses on that 911 call we heard so much. in that call we hear the gunshot, right? >> right. this is potentially decisive expert testimony money that can persuade this jury to go guilty or not guilty. whether it's george zimmerman's voice or trayvon martin's voice screaming in the audio tape. even saying quote, i'm begging you. but the defense has its own experts saying it's zimmerman yelling. experts say it's impossible to tell given the quality of the tape. >> 911, do you need police or medi
and he's not talking about a flood of new jobs coming into the economy tither. he's got to quit the printing money at some point. he's hinting he will do it soon but he's not leaving a strong underlying economy underneath it. that's why to some degree you have got the selloff in the stock market. martha: an all female jury will decide if george zirmman committed murder when he shot and killed teenager trayvon martin. today we expect we'll hear whether a potentially critical piece of evidence...
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look, i'm still pretty bullish on the economy as christine knows. the thing that is really interesting about this, carol. the fed and ben bernanke did not announce the other day that they were taking the punch bowl away. they were saying, right, christine, they might take it away some time in the future and just that, so, you know, cause so much nervousness on wall street that you saw this big, this big selloff. i don't expect the selloff to continue. i think this was just a little bit, a temper tantrum because they were -- >> a taper tantrum. >> a taper tantrum. >> absolutely. >> ben bernanke, so interesting, ben bernanke basically said we'll go on a diet some time next year and that's what got everybody so worried about a diet that hasn't started yet. just the fact that he was so clear about going on a diet is why every aen with is concerned. >> taper means the economy is improving. wall street is just kind of jittery because they're not going to be propped up any more. it's not going to hurt them in the long run if the economy is improving. >> bu
look, i'm still pretty bullish on the economy as christine knows. the thing that is really interesting about this, carol. the fed and ben bernanke did not announce the other day that they were taking the punch bowl away. they were saying, right, christine, they might take it away some time in the future and just that, so, you know, cause so much nervousness on wall street that you saw this big, this big selloff. i don't expect the selloff to continue. i think this was just a little bit, a...
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Jun 21, 2013
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ben bernanke says he expects unemployment to fall and the economy to grow through the next year. so while the markets might experience short-term volatility, experts say it's a by-product of a brighter economic future. >> we love this. this is what we live for when you have this kind of volatility. this is a dream for us. that's why you're in the business. >> reporter: this is when you make your money? >> exactly. >> reporter: the dow is still up about 12% since the beginning of the year, so many investors are looking at the developoff as an opportunity to buy stocks at -- are looking at this sell-off as an opportunity to buy stocks at a discount. ashley morrison kpix 5. >>> facebook has revealed a new feature for instagram, its photo sharing app. instagram video allows users to share videos up to 15 seconds in length. it competes with twitter's vine app which also allows users to share video clips. and yahoo now officially owns the online blogging forum tumblr. the internet giant completed its $1.1 billion acquisition of the company. they hope tumblr will bring in more advertisi
ben bernanke says he expects unemployment to fall and the economy to grow through the next year. so while the markets might experience short-term volatility, experts say it's a by-product of a brighter economic future. >> we love this. this is what we live for when you have this kind of volatility. this is a dream for us. that's why you're in the business. >> reporter: this is when you make your money? >> exactly. >> reporter: the dow is still up about 12% since the...
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Jun 21, 2013
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is a recovering economy a good time to start a business? - you know, it's funny, is there ever a good time to start a small business? haven't our greatest corporations been started in depressions and recessions? my feeling, bill, is that there really has never been a better time to start a small business. there are so many resources available out there for the small business owner to use. one example is, the ups store has started a partnership with score. score is an organization of individuals - used to be a bunch of retired people - still is - very experienced and seasoned - but now they have a lot of executives who are running their own businesses, and managers, and they mentor small businesses. so that is a resource that's out there for small business owners to use - a free resources - that they can rely on to help them with their business plans, bounce ideas off of, give them ideas for running a business. these are the kinds of things that really didn't exist just years ago. - and the small business administration, that's another great
is a recovering economy a good time to start a business? - you know, it's funny, is there ever a good time to start a small business? haven't our greatest corporations been started in depressions and recessions? my feeling, bill, is that there really has never been a better time to start a small business. there are so many resources available out there for the small business owner to use. one example is, the ups store has started a partnership with score. score is an organization of individuals...
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ben bernanke says he's expecting the economy to grow. experts say it's a by-product of a brighter economic future. >> we love this. this is what we live for. when you have these kind of -- this kind of volatility, this is a dream for us. that's why you're in the business. >> this is when you make your money. >> exactly. >> the dow is still up about 12% since the beginning of the year, so many investors are looking at this week's selloff as an opportunity to snatch up stocks at a discount. anne-marie? >> ashley morrison, thank you. >>> well, today president obama will nominate a former bush administration official to be the new director of the fbi. if confirmed by the senate, james comey will replace robert mueller. comey is best known for a stand off with the bush administration over the warrantless wiretapping program. and this morning we're learning more about the government's far-reaching nsa surveillance program. two in documents published by the "washington post" and britain's "guardian" indicate that nsa can keep copies of communic
ben bernanke says he's expecting the economy to grow. experts say it's a by-product of a brighter economic future. >> we love this. this is what we live for. when you have these kind of -- this kind of volatility, this is a dream for us. that's why you're in the business. >> this is when you make your money. >> exactly. >> the dow is still up about 12% since the beginning of the year, so many investors are looking at this week's selloff as an opportunity to snatch up...
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this economy the new normal? caller: it looks like it with everything the way is going on -- with everything that is going on. my situation iis ok. i have family and friends that have been laid off and trying to find jobs and we all are trying to help a couple of family members out. host: where are you from? caller: i am calling from north llc -- from north tennessee. our next call, good morning. love c-span and "washington journal." basically this whole concept of ," -- a lot of us forget history. the way i view things is since world war two there has been this big exhalation of government programs. -- escalation of government programs. over decades they have made these promises and it is starting to encroach in the private sector. the private sector is what creates jobs, not the government. think that as an important concept here. it is kind of a big escalation in government and it is starting to infringe on the private sector. host: if you are listening on c- span radio, coast-to-coast on x m at channel -- on
this economy the new normal? caller: it looks like it with everything the way is going on -- with everything that is going on. my situation iis ok. i have family and friends that have been laid off and trying to find jobs and we all are trying to help a couple of family members out. host: where are you from? caller: i am calling from north llc -- from north tennessee. our next call, good morning. love c-span and "washington journal." basically this whole concept of ," -- a lot of...
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banks are very important indeed there are those who say that the most important institutions in the economy today and judging by the way that people hang on ben bernanke is every word like today like today as we're speaking it's obviously true now i think one has to be careful here that the central bank has done a tremendous job of avoiding the great depression we came very very close to total meltdown two thousand and eight two thousand and nine we could have rerun the one nine hundred thirty s. i think ben bernanke is a student of the depression did a great job of avoiding that scenario but now we're in a different place the stock market is back to where it was in two thousand and seven and everybody that are scary times now right everybody is asking is it time to take the patient off this powerful medication called quantitative easing and i think that debate is going to be quite a protracted one because it's a little too early in my view to say recovery is established we can return to normal we can raise rates i don't think that is going to happen but there are there are critics of the f
banks are very important indeed there are those who say that the most important institutions in the economy today and judging by the way that people hang on ben bernanke is every word like today like today as we're speaking it's obviously true now i think one has to be careful here that the central bank has done a tremendous job of avoiding the great depression we came very very close to total meltdown two thousand and eight two thousand and nine we could have rerun the one nine hundred thirty...